ME News report, September 9 (UTC+8): According to TradingBeats monitoring, the sustained rally in LIT continues to squeeze short positions. The whale beginning with 0x9996 has already partially closed approximately $3.6652 million in short positions, realizing a trading loss of $622,600, yet the remaining position remains close to liquidation level. This whale has initiated a 5-hour TWAP buy order to cover 969,900 LIT. Prior to initiation, the whale held 1,842,200 LIT in short positions; as of publication, 703,600 LIT have been covered, representing approximately 72.55% of the planned coverage. Currently, the whale holds 1,138,600 LIT short positions with 4x isolated leverage, valued at approximately $6.0431 million, with an average entry price of $4.324 and an unrealized loss of about $1.119 million. Meanwhile, LIT is trading at $5.30, just $0.1373 (or 2.59%) away from its liquidation price of $5.4450. The TWAP order is still in execution, with 266,300 LIT remaining to be covered, originally scheduled to conclude around 17:16 today; subsequent position reductions or margin adjustments may alter the liquidation price. (Source: BlockBeats)
LIT price surge forces whale to close short positions, $6M in remaining shorts near liquidation
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Summary
Whale activity in LIT trading intensified on September 9 (UTC+8) as price movement pushed the token higher, squeezing short positions. A whale with address 0x9996 closed $3.665 million in short positions, incurring a loss of $622,600. The whale is using a 5-hour TWAP to buy 969,900 LIT, with 703,600 already repurchased. Remaining short positions total 1,138,600 LIT, valued at $6.04 million, with a floating loss of $1.119 million. At $5.30, LIT is just 2.59% away from the liquidation price of $5.4450.
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